NITEL The Federal Government yesterday approved the hand over of Nigeria Telecommunications Limited (NITEL) and its mobile arm, Mtel to NATCOM. National Council on Privatisation (NCP) Technical Committee Deputy Chairman Haruna Sambo, who spoke after the NCP meeting chaired by Vice President Namadi Sambo at the Presidential Villa, Abuja, said the consortium had completed the payment of $252.251million being the cost of the firm’s acquisition. He said: “You recall that at the last NCP meeting, approval was made for the financial bid for NITEL/MTEL by the bidder, NATCOM Consortium at the cost of $ 252.251m. Today, at the council meeting, the council approved the handover to NATCOM Consortium, having paid the cost of acquisition. “By this approval, the process has come to a closure and the council has mandated the BPE to hand over the two companies to the preferred winner, of course, after all other outstanding issues are taken care of. “With this, t...